Penn National Gaming dropping Maryland acquisition

Citing recent gaming legislation approved in Maryland, Penn National Gaming Inc. said today it is scuttling its proposed acquisition of the Rosecroft Raceway in Fort Washington, Md.

The company said the Maryland legislation allowing video lottery terminals specifically excludes Prince George's County where Rosecroft is located. Because of this, Rosecroft "will be denied the opportunity for an alternative revenue source that would enable it to compete with other tracks" in the state, the company said.